ConAgra Lifts Guidance, Dividend on Q1 Earnings Surge

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By Trey Thoelcke Published
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ConAgra Foods Inc. (NYSE: CAG) this morning reported fiscal first quarter 2013 earnings per share (EPS) of $0.41 on revenue of $3.31 billion. In the same period a year ago, the processed and packaged foods producer reported EPS of $0.31 on revenue of $3.10 billion. Results compare to the Thomson Reuters consensus estimates for EPS of $0.36 and $3.24 billion in revenue.

ConAgra raised its adjusted fiscal 2013 profit outlook to $2.03 to $2.06 a share, ahead of the analyst forecast of $1.98 a share.

The company’s CEO said:

Based on continued momentum in our potato operations, effective margin management initiatives across the portfolio, and contribution from acquisitions, we are able to post a strong EPS performance in the midst of difficult marketplace conditions. It is clear that our operating capabilities, strategic initiatives, and prudent capital allocation are accelerating EPS performance. We have raised our EPS expectations for fiscal 2013 while continuing to make strong levels of marketing investment as part of long-term brand building initiatives.

The company also hiked its quarterly dividend by a penny a share to $0.25 per share.

ConAgra’s share price is up 6.4% in premarket trading this morning, at $27.30 in a 52-week range of $22.39 to $27.34.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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